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Please answer the places where I am wrong. The question: 2. Use the following adjustment information to complete the Adjustments columns of the work sheet.
Please answer the places where I am wrong.
The question:
2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $16 b. Accrued salaries, $19 c. The $25 of unearned revenue has been earned d. Supplies available at December 31, $80 e. Expired insurance, $28 3. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns including net income. For the year ended December 31 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Retained Earnings Dr. Cr. ccount Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. $ 86 $ 86 $ 86 eivable 51 51 51 102 $ 22 80 80 ance 44 16 X 28 x 28 x 65 65 65 $ 41 16 $ 57 $ 57 eciationEquip. able 19 19 19 able 19 19 19 enue 25 $ 25 0 x 0 X ck 88 88 88 nings 58 58 127 32 32 enue 205 25 230 $ 230 expenseEquip. 16 16 $ 16 ense 31 19 50 50 pense 16 X 16 x 16 x ense 22 22 22 nse 25 25 25 2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $16 b. Accrued salaries, $19 c. The $25 of unearned revenue has been earned d. Supplies available at December 31, $80 e. Expired insurance, $28 3. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns including net income. For the year ended December 31 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Retained Earnings Dr. Cr. ccount Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. $ 86 $ 86 $ 86 eivable 51 51 51 102 $ 22 80 80 ance 44 16 X 28 x 28 x 65 65 65 $ 41 16 $ 57 $ 57 eciationEquip. able 19 19 19 able 19 19 19 enue 25 $ 25 0 x 0 X ck 88 88 88 nings 58 58 127 32 32 enue 205 25 230 $ 230 expenseEquip. 16 16 $ 16 ense 31 19 50 50 pense 16 X 16 x 16 x ense 22 22 22 nse 25 25 25Step by Step Solution
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